Wealth Index
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The Millionaire Next Door Wealth Index
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Enter These Inputs:
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Enter Your Age:48
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Enter Your Income:$125,000
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$600,000
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RESULTS - Your Wealth Index
Inflation Adjusted Ranges (1)
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If your net worth is greater than....
$1,200,000
...then you are a "Prodigious Accumulator of Wealth" (PAW)
$1,884,000
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If your net worth is greater than....
$600,000
....then you are "Wealthy", and on pace with The Millionaire's Next Door!
$942,000
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If your net worth is between....
$300,001-$599,999
... then you are an "Average" Accumulator of Wealth
$471,002-$941,998
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If your net worth is less than....
$300,000
...then you are an "Under Achiever Of Wealth" (UAW)
$471,000
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(1) Inflation adjustment: The Millionaire Next Door was written in 1996, so some argue the ranges should be "Inflation Adjusted".
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If your wage increases with inflation, you could creep higher in the 1996 brackets and appear "wealthier" than intended by Dr. Stanley.
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I disagree, and argue that your salary is used in the formula to calculate the "wealth ranges", so the ranges would adjust with inflation to a large extent.
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To calm any critics, I've added this "inflation adjustment" to the 1996 bracket ranges. Choose how to view it, but showing both ranges gives you the option as you see fit.
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To make the adjustment, I used this link from Dollar Times:
http://www.dollartimes.com/inflation/inflation.php?amount=1&year=1996
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At that link, we can see that $1 in 1996 is worth $1.57 today. Therefore, I've provided "inflation adjusted" ranges in column J to modify the original
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ranges to by the inflation rate (X 1.57). I view it as double counting, but I'll let you view it however it makes sense to you.
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*Note: Results should not be used if you're "very young" (<25), or if you're just starting a career after a very expensive education (e.g., Physician)
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